New Delhi, India [RenewableEnergyAccess.com]
Moser Baer Photo Voltaic Limited (MBPV), a wholly owned subsidiary of Moser Baer India Limited (MBI), acquired a significant minority stake in Stion Corporation, a nanostructures technology company based in California, formerly known as NStructures. This investment follows equity participation in two other solar concentrator technology companies, Solaria and SolFocus, announced previously.
"We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply."
-- Ravi Khanna, Moser Baer Photovoltaic Limited, CEO
Stion Corporation is a pioneer in nanostructure-based PV technologies. The nanostructure particles are custom tunable using several substrate materials to create multiple junction materials capable of absorbing nearly the entire solar light spectrum. This would result in very high efficiency solar cells at a low cost. The technology involves leveraging and optimizing the existing advanced technology for nanoparticles specifically for the generation of electricity from solar energy.
The third investment is part of Moser Baer's earlier announcement of US$17 million into MBPV for investing into emerging solar cell technologies. MBPV is moving toward this high-growth industry by investing into technologies like concentrator photovoltaic (CPV) and nanotechnology, which are advancing solar technologies to complement existing PV and conventional energy technologies.
"This is in line with our strategy to reduce the cost of solar power generation significantly by straddling multiple future technologies and emerge as an engineering and technology driven company," said Ravi Khanna, CEO, Moser Baer Photovoltaic Limited. "We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply."